Whipplewood Advisors LLC Purchases Shares of 2,059 Broadcom Inc. (NASDAQ:AVGO)

Whipplewood Advisors LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 2,059 shares of the semiconductor manufacturer’s stock, valued at approximately $477,000.

A number of other hedge funds have also recently bought and sold shares of the stock. NewEdge Wealth LLC grew its stake in Broadcom by 6.3% in the fourth quarter. NewEdge Wealth LLC now owns 428,637 shares of the semiconductor manufacturer’s stock valued at $99,375,000 after purchasing an additional 25,296 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Broadcom by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 400,430 shares of the semiconductor manufacturer’s stock worth $92,836,000 after acquiring an additional 1,884 shares during the period. Checchi Capital Advisers LLC boosted its stake in shares of Broadcom by 1.1% during the 4th quarter. Checchi Capital Advisers LLC now owns 46,640 shares of the semiconductor manufacturer’s stock worth $10,813,000 after acquiring an additional 518 shares during the period. Impact Investors Inc bought a new position in shares of Broadcom during the 4th quarter worth approximately $1,440,000. Finally, Bryn Mawr Capital Management LLC boosted its stake in shares of Broadcom by 9.0% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 6,602 shares of the semiconductor manufacturer’s stock worth $1,531,000 after acquiring an additional 543 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last 90 days. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of several research analyst reports. Benchmark reiterated a “buy” rating and set a $255.00 target price (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Susquehanna lifted their target price on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Mizuho lifted their target price on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Jefferies Financial Group boosted their price target on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Bank of America boosted their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Price Performance

Broadcom stock opened at $197.80 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The stock has a market capitalization of $927.16 billion, a P/E ratio of 161.34, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. The stock has a fifty day moving average of $227.87 and a 200-day moving average of $191.51.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 EPS. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.19%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 191.87%.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.